Learning how to evaluate potential deals

[Arthur Banks]

I'm throwing this out there so I can start to learn how to analyze deals. I've read a lot of the deals here on BP, but it's not as useful as posting personal info. I see this property on the MLS and I'm not saying I'm ready for such an investment, but I want to be knowledgeable for when the time comes. So here goes: (I'm not sure all the info I need to post for help analyzing, so I'll post what I see in the listing)

5 unit

2BD/1BA each (3 upper apts, 2 'garden' apts - whatever that means)

Rents: $625-$625 (3), $600-$600 (1) $300-$600 (1) I don't understand $300-$600 Also looks like the 2 garden apts are vacant

1 washer, 1 dryer coin op

Gross rent: $1525

Total Monthly Income: $2800

Total Annual Income: $33600

Gross Rent Multiplier: 5 (what is this?)

Tax Amt: $11,976

Tax Yr: 2012

Expense Year: 2013

Annual Net Operating Income: $15,423

Cap Rate: not listed

Electricity Expense: $456/Actual

Water expense: $564/Actual

Scavenger Expense: $907/Actual (what is this?)

Insurance Expense: $2,242/ Actual

So I have no clue where to begin to even evaluate this as a potential deal or not. I don't even know the questions to begin to ask. So, if you saw this deal, how would you evaluate it? What's missing? Rents too low? Etc.

Thanks in advance.